1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sweet [91]
3 years ago
7

Jones Corp. reported current assets of $193,000 and current liabilities of $137,000 on its most recent balance sheet. The curren

t assets consisted of $62,000 Cash; $43,000 Accounts Receivable; and $88,000 of Inventory. The acid-test (quick) ratio is_____________.
Business
1 answer:
Dovator [93]3 years ago
5 0

Answer:

Acid-test (quick) ratio=0.76642

Explanation:

Given Data:

Current Assets=$193,000

Current Liabilities=$137,000

Cash=$62,000

Accounts receivable=$43,000

Inventory=$88,000

Required:

Acid-test (quick) ratio=?

Solution:

Quick Assets=Cash+Accounts receivable

Quick Assets=$62,000+$43,000

Quick Assets=$105,000

Acid-test (quick) ratio=Quick Assets/Current Liabilities

Acid-test (quick) ratio=$105,000/$137,000

Acid-test (quick) ratio=0.76642

You might be interested in
Sally, the manager at a large restaurant chain, was just given information from the corporate office on how to increase sales in
Illusion [34]

Answer: C. Measure performance

Explanation: Controlling is the managerial functions of planning, staffing, organizing, implementing and directing. It helps to check the errors and take corrective action, so it is known as an important function of management. It is necessary to ensure that the desired results are achieved.

The control process is the system that allows setting, measure, match and tweak any business activities such as production, packaging, delivery and more. ... The control process is the functional process for organizational control that arises from the goals and strategic plans of the organization.

6 0
2 years ago
Read 2 more answers
brian buys a case of 12 bottled waters for 4.99 and a 12 pack of oreos for 5.99 for his volleyball team. there are a total of 12
RUDIKE [14]

Each player owe Brian 92 cents.

4.99+5.99 = 10.98

10.98/12 = .915 or approximately 92 cents

to check : .915 x 11 =  10.065 + .915 (brian's share) =  10.98

5 0
2 years ago
You are bullish on telecom stock. the current market price is $110 per share, and you have $22,000 of your own to invest. you bo
deff fn [24]

Answer:

9.4%

Explanation:

Initial investment=$22,000+$22,000=$44,000

number of shares bought=$44,000/$110(the investor paid $55 out of every $110)

number of shares bought=400

Increase in share in one year=$110*8%=$8.80

loan interest on each share=$55*6.6%=$3.63

rate of return=(increase in share price-loan interest)/initial amount invested

rate of return=($8.80-$3.63)/$55

rate of return=9.4%

5 0
2 years ago
Predetermined Overhead Rate, Application of Overhead to Jobs, Job Cost
Ghella [55]

Answer:

See below

Explanation:

1. Predetermined overhead rates

= Applied overhead / Direct labor

Job 114

Applied overhead / direct labor

= $1,260/1,800

= 70%

Job 115

Applied overhead / direct labor

= $994/1,420

= 70%

Job 116

Applied overhead / direct labor

= $3,094/4,420

= 70%

2 and 3 Ending balance of each job and work in process as of April 30th.

Job 114. Job116

Opening. $2,384. $3,085

Materials

Purchases $16,800. $5,410

Direct labor

($1,800+$1,800) $3,600. $5,740

Actual $2,520 $4,018

Overhead

at 59.36%

Balance $25,304. $18,253

• Note

The whole of job 115 has been sold out.

• Actual overhead = Actual overhead / direct labor

= $4,535/7,640

= 59.36%

4 Cost of goods sold in April

Job 115

Opening materials. $2,603

Purchases. $12,460

Direct labor

($1,420 + $3,080). $4,500

Actual overhead. $3,150

at 59.36%

Cost of goods sold $22,713

5. Selling price of job

Cost of job 115 = $22,713

Selling price = 1.25% × $22,713 = $28,391

4 0
2 years ago
In what ways can labor and management resolve disputes
saul85 [17]

Answer:

understand

Explanation:

by understanding each other and work inline with the business goal in order to achieve the business objective

5 0
3 years ago
Other questions:
  • A firm in a monopolistically competitive market is similar to a monopoly in the sense that (i) they both face downward-sloping d
    5·1 answer
  • The management practice of ________ involves actively seeking people of different races, sexes, ethnic groups, and religions in
    9·2 answers
  • In the diagram above, what will happen if the government sets the price for potatoes at point A?
    12·1 answer
  • What is cost Price formulas​
    13·1 answer
  • Martin was named "employee of the month" for his outstanding customer service. according to maslow, this award may help satisfy
    8·1 answer
  • 1. Do you believe that ERM will continue to evolve, and if so, how? 2. Do believe that risk is a two-sided coin with both upside
    9·1 answer
  • Andy works at AZ Corporation. He has been working very hard and feels he deserves a pay hike. He wants to seek a meeting with An
    10·1 answer
  • The Rose Co. has earnings of $1.40 per share. The benchmark PE for the company is 15. What stock price would you consider approp
    7·1 answer
  • Hamner Time has sales of $122,000, costs of $54,600, depreciation of $32,800, interest of $12,000, and a tax rate of 21 percent.
    8·1 answer
  • The ratio of the percentage change in the quantity supplied of a good/service/e-good/e-service to a given percentage change in i
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!